Wednesday, 15 October 2008

The Housing Market

I really feel for the young! Recently I have welcomed new neighbours on either side of me. I suspect that they are successful young professionals. One of them is an estate agent and this week he seems to be at home more than he is at work. I do not know what the other side do but they are nice people.

The problem that I query is that they both bought their houses at the height of the property market prices and even if they intend to stay as long as we have stayed it could be years before they break even.

Now I know that on one side the people that they bought it from had an unbelievable offer from a relative to purchase a property which was so beyond their dreams that they could not ignore it. My former neighbour in that side also runs his own business and currently they are in rented accommodation awaiting the the completion of their dream property. I do wonder if they will regret their decision. Personally I hope that they all win because we are dealing here with hard working, honest, decent folks who are only trying to improve their lives.

I wonder in the long run who if anyone will win from this situation. I really hope that in the end they all win and do you know I think they might do that. My reasoning for this is that my neighbours have both bought a house in a lovely row. This row is south facing, not overlooked, close to urban and rural facilities and all the neighbours are solid English citizens!

I do hope that our former neighbours will also gain from their gamble because to be honest they deserve to be successful but I do fear for them! Dream houses often come at a price!